Best Forex Brokers for 2022

Do you want to bet that the Euro (EUR) will appreciate in value versus the US Dollar (USD)? To do so, you'd trade the EUR/USD currency pair (or place a spread bet on it), which is a forex investment. The forex market is the world's largest and most liquid market, with trading taking place 24 hours a day, five days a week, and representing every worldwide currency.

You'll need a trustworthy online broker to trade FX. Trading with a reputable forex broker is critical to achieving success in the global currency markets. As a contract for difference (CFD) trader or forex investor, you may have special demands such as a platform, trading tools, or research requirements. Educating yourself on your investment style needs can help determine which forex broker will be best for you.

Top Forex Brokers in 2022



  1. IG-Best overall broker, most trusted
  2. Best web-based trading platform: Saxo Bank
  3. CMC Markets-Excellent overall, best platform technology
  4. Interactive Brokers: Great overall, best for professionals.
  5. TD Ameritrade FX: Best desktop platform, available only in the United States
  6. FOREX.com: A fantastic all-around offering
  7. XTB-Great research and education
  8. City Index: Excellent all-round offering
  9. Swissquote-Trusted broker, best banking services

Which broker is best for forex trading?

With IG the top forex broker in our 2022 Annual Review, with 100 currency pairs accessible and the opportunity to trade CFDs and forex options, traders have lots of alternatives. In addition to almost a dozen worldwide licenses, IG is the only broker regulated in both Switzerland and the United States, making it one of the most reputable brokers.

What is the role of a forex broker?

A forex broker is a firm that has been regulated (or exempted) by a national regulator to allow you, as a retail or professional customer, to buy or sell foreign currencies via an internet trading platform or over the phone (known in the industry as "over the counter" trading).

The forex broker with the best platform


The Next Generation platform from CMC Markets offers a huge assortment of approximately 10,000 tradeable products. It offers a fantastic user experience, as well as powerful tools, in-depth market analysis, and a fantastic mobile app. The CMC Markets Next Generation trading platform is without a doubt a market leader that will amaze even the most discerning traders. CMC Markets' new Dynamic Trading feature allows you to conduct numerous transactions at the same time, which is a wonderful addition this year.

Which FX broker has the lowest commissions?

Due to their leverage, CFDs are sophisticated products that carry a significant risk of losing money quickly. When trading CFDs with this supplier, around 70% of retail investor accounts lose money. You should think about whether you understand how CFDs operate and whether you can afford to risk losing all of your money.

Tickmill has the most attractive all-in expenses when it comes to commissions and spreads, especially for active and VIP traders, who have access to some of the lowest pricing in the market. When factoring in the RT charge and the usual spread data published by Tickmill for its Pro account offering of 0.13 pips for the EUR/USD, the all-in cost equals 0.53 pips when factoring in the RT commission equivalent of 0.4 pips.

To evaluate brokers, we look at typical spreads for conventional forex contracts (100,000 units) as well as mini accounts (10,000 units) and micro accounts (1,000 units), when appropriate, to see how much novices, average traders, and even more seasoned traders would spend. The all-in cost is then calculated by adding any round-turn commissions to the current spreads.

Which forex broker has the most CFDs available?

With 19,537 tradeable CFDs, IG has the most in the business. CFDs, or "contracts for difference," enable traders to speculate on the price of a stock, currency pair, market index, or commodity without actually owning the underlying asset.

Which forex broker has the most currency pairings to choose from?

Due to their leverage, CFDs are sophisticated products that carry a significant risk of losing money quickly. When trading CFDs with this supplier, 74% of retail investor accounts lose money. You should think about whether you understand how CFDs operate and whether you can afford to risk losing all of your money.

CMC Markets has the most tradeable currency pairings, with 158, among approximately 10,000 CFDs that can be quoted both ways (i.e., EUR/USD or USD/EUR), which comes to a total of 316 pairs.

What factors should I consider while selecting a forex broker?

Here are three of the most crucial considerations to evaluate when selecting an online forex broker.

  • To begin with, double-check that your broker is fully licensed and regulated. Your deposit's security is always a high priority.
  • Then, examine each broker's account options, trading platforms, tools, and investment research.
  • Finally, evaluate pricing and product offerings (e.g., the number of currency pairs and CFDs accessible to trade) to determine what is most relevant to your forex trading and investing needs.

What is the best way to tell if my forex broker is regulated?

To avoid forex fraud, it is critical to select a well-known, adequately licensed broker. If you want to see if your forex broker is regulated, look for the registration number in the disclosure paragraph at the bottom of the broker's webpage. Next, check the firm's registration number on the regulator's website; 

You can see information on the rate and rank of forex brokers across over 20 foreign regulators here. Extra investigation if the broker is not regulated in your country.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work.

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